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Telecom Firms Agree to Build
New Submarine-Cable Network

Seventy leading telecommunications providers and administrators met in Singapore Wednesday to sign a $1.3 billion agreement to build and maintain the world's largest underseas cable.

The 38,000-kilometer-long submarine-cable network, called SEA-ME-We 3, will be the world's longest and largest in capacity, Hong Kong Telecommunications Ltd. said in a statement. Two other submarine cables, SEA-ME-WE 1 and 2, are in operation.